The nation's thrifty new President, basking in widespread popularity
over his sharp budget and tax cuts, showed last week that he can dish
money out as well as he can take it away. Turning from economic
troubles at home to the Soviet threat abroad, the Reagan Administration
announced the largestand most expensivepeacetime military buildup
in U.S. history. The five-year plan would more than double the current
defense budget, pushing it from $171 billion in fiscal 1981 to $367.5
billion in 1986. The first big leap in new...